Banks should quickly comply with Basel III, Wellink says

09/23/2010 | Reuters

Nout Wellink, head of the Basel Committee on Banking Supervision and a member of the European Central Bank Governing Council, said banks should not be fooled by Basel III's lengthy phase-in period and work immediately to comply with the rules. "Banks should not be permitted to increase their distributions if they are still below the ultimate target but feel they can take their time to get there," he said.

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